Reciprocity
AUGUST 17, 2022
On the other hand, confusion about risks – and especially about strategic and operational risks – undermines an organization’s ability to manage risk well. This article addresses common questions about strategic and operational risk, such as: What are strategic risks and operational risks? Non-Business Risks.
Advancing Analytics
AUGUST 26, 2021
A report by Citigroup , showed that after the technology sector, the financial services industry is the biggest spender on AI services and is experiencing exponential growth. Interestingly, the insurance sector has 100% live machine learning applications in use. Fraud Detection. Risk Management.
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FS-ISAC
MARCH 2, 2022
As a financial services cybersecurity professional who has worked on three continents for large multinational institutions, I understand the advantages and challenges for security departments at banks both large and small. Financial institutions have many security tools; this creates a significant amount of complexity.
Reciprocity
AUGUST 18, 2022
The result should be better, more strategic decision-making. ERM is the process of methodically identifying and dealing with any potential events that could threaten the achievement of strategic objectives or competitive advantage opportunities. Passing or sharing the risk via insurance, joint venture, or another arrangement.
Reciprocity
MARCH 28, 2022
Your enterprise risk management (ERM) program – one that encompasses all aspects of risk management and risk response in all business processes, including cybersecurity, finance, human resources, risk management audit , privacy, compliance, and natural disasters – should involve strategic, high-level risk management decision-making.
Reciprocity
AUGUST 24, 2022
Not long ago, risk managers concerned themselves mainly with hazards such as fires and floods; or in the financial sector, loan defaults (credit risk). Organizations typically bought insurance to avoid the losses these risks could cause, thus “transferring” the risk to the insurance company.
Reciprocity
AUGUST 24, 2022
When vendors cannot deliver the promised services, businesses frequently experience disruptions to their business, unable to carry out routine tasks. Vendor business decisions that conflict with your firm’s strategic goals create strategic risks.
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